Update
Coinbase and PNC Bank Expand USDC Payments to Business Bank Accounts
Coinbase and PNC Bank have extended their partnership to allow businesses to accept USDC payments and receive the funds directly into their U.S. dollar bank accounts. Under the arrangement, Coinbase handles incoming USDC payments and converts them into dollars, with PNC crediting the money to the clients' accounts. The pilot uses Coinbase Payment APIs to exchange USDC for dollars at a 1:1 rate, eliminating the need for businesses to hold USDC or manage the conversion process themselves. The service is currently available to selected corporate and institutional clients.